Laserfiche WebLink
<br /> 2.5 LCRA shall prepare and submit to CITY for <br /> consideration annual budgets in a form approved by CITY for the <br /> annual operation and maintenance of the SYSTEM (hereinafter <br /> "OPERATING BUDGET") and for annual renewals and replacements <br /> and major capital improvements or additions (hereinafter <br /> "CAPITAL BUDGET"). Each budget shall be prepared on the basis <br /> of CITY's fiscal year and submitted to CITY by June 1 prior to <br /> commencement of the applicable CONTRACT YEAR. CITY will <br /> consider the proposed budgets in CITY's normal budgetary <br /> process and provide LCRA with approved budgets prior to the <br /> commencement of the applicable CONTRACT YEAR. <br /> The annual OPERATING BUDGET and CAPITAL BUDGET <br /> prepared for the initial CONTRACT YEAR ending September 30, <br /> 1987, shall include budgeted data for September 1986 and will <br /> be submitted to CITY as soon as practical but not later than <br /> August 15, 1986. <br /> Each OPERATING BUDGET will set forth monthly budgeted <br /> amounts, including, but not limited to, labor, material and <br /> supplies, and overhead costs. Each CAPITAL BUDGET will set <br /> forth estimated monthly expenditures, by project, including, <br /> but not limited to, labor, materials and supplies, and overhead <br /> costs. <br /> -5- <br />